5 minute method
In this strategy, we will be focusing on the EURUSD pair in a 5 minute timeframe. Here are the indicators in this system.
- MACD: 12,26,1 (1 means nothing)
- Stochastic: 5, 3, 3
- EMA 5 to the close
- EMA 5 to the open
Note:
- No trades during news times*
- Risk is set to 1%*
- Take profit is random based on market conditions but it is advisable to exit based on the reversal patterns or a cross of the 2 EMAs.
- Trade signals are only confirmed on closed candle bars.
For BUY signal
- When the stochastic crosses up from the 20 line and is not ovebought;
- The MACD closses higher than the previous time interval;
- The Signal candle bar closes higher bullish;
- The 5 EMA to the close has crossed the 5 EMA to the open;
- Set stop loss in the low of the previous candle or 20 pips but 20 pip min.
- Close when the 5 ema to the close has crossed the 5 ema to the open
For SELL signal
- When the stochastic crosses down from the 80 line and is not oversold;
- The MACD closses lower than the previous time interval;
- The signal candle bar closes lower bearish;
- The EMA 5 to the close has crossed the EMA 5 to the open;
- Set stop loss in the high of the previous candle or 20 pips but 20 pip min.
- Close is based on price action.
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